Archive for Accounting Firms
November 19, 2008 at 4:38 am · Filed under Accounting Firms
Most certified public accounting firms reported strong growth during the past two years and are poised to benefit as clients use their services more to navigate their way through the troubled economy, according to a recent survey conducted by the Durham-based American Institute of Certified Public Accountants.
The 2008 National Management of Accounting Practice survey reports that 75 percent of CPA firms surveyed reported growth ranging between 1 percent and 19 percent over the two years from May 2006 through June 2008. Average net client fees per partner rose 10 percent, to $664,847.
The AICPA conducted the survey in partnership with the Texas Society of Certified Public Accountants.
“Clients go to CPAs to help them weather a troubled economy, and banks may seek greater assurance from practitioners about the companies with which they do business,” says James Metzler, an AICPA vice president.
The survey was taken before the financial crisis deepened, so Metzler says the firms’ strategic planning will need some careful revision.
“Particularly in a period of economic uncertainty, practitioners may increasingly find themselves facing more fee competition from other firms and pressure from clients,” he says.
Meanwhile, fewer CPA firms are reporting turnover, another side effect of recessionary forces at work. About 31 percent of respondents said they had lost professionals in fiscal 2007, compared to 45.6 percent a year earlier.
“We’ve found that more and more small firms are offering greater work-life flexibility, which persuades more practitioners to remain at their firms,” Metzler says.
A weak spot, according to the survey, is succession planning. Only 22 percent of firms surveyed had a succession plan and only 10 percent of the smallest firms had a practice continuation agreement in the event of death or a disability that leaves the owner unable to work.
The survey included responses from 2,722 CPA firms.
http://www.bizjournals.com/triangle/stories/2008/11/17/daily16.html
November 17, 2008 at 6:07 am · Filed under Accounting Firms
The field of accounting has changed radically over the years, as have the firms that practice its science and art. It is a major part of one of the state’s picks – professional services – as a targeted high-paying growth cluster.
At one time, accounting was ruled by the Big 10 firms, which morphed to the Big Eight and are now down to the Final Four. While the major nationwide firms have dwindled in number, the local and regional firms have grown geometrically in both good times and bad.
The term accounting, itself, is derived from the term financial accounts. Today, lenders, business operators, investors, taxing authorities and the courts rely heavily on accounting services.
Most CPA firms are divided broadly as certification or forensic practices, with some firms doing both.
http://www.bizjournals.com/southflorida/stories/2008/11/17/focus7.html
November 14, 2008 at 1:37 am · Filed under Accounting Firms
One of the largest accounting firms in Northern California is about to open an office at Hamilton Landing in Novato.
Burr Pilger Mayer announced Wednesday that it will open its fifth Bay Area office in December, and some of its North Bay employees are rejoicing.
“It’s fabulous just from the traffic standpoint. We have eight or nine people at the higher levels who live in Marin,” said Sonoma resident Geralyne Mahoney, one of eight partners who will work at Hamilton rather than commute to the firm’s headquarters in San Francisco.
The firm will occupy about 3,300 square feet and serve as home base for about a dozen people at the start, according to marketing manager Constance Jorritsma. Later, staff might total 15 there, she said.
“We always felt that wherever our people are living, those are communities we should support,” Mahoney said. “Marin is the perfect place for us to retain and attract good staff who do not want to make that commute.”
Jim Petray, hired by BPM on Oct. 30, will manage the Novato office.
The firm, which has more than 350 employees, was founded 23 years ago and focuses on accounting, business consulting and wealth management services. Its other offices are in San Francisco, Palo Alto, San Jose and Walnut Creek.
http://www.marinij.com/marinnews/ci_10967608
November 13, 2008 at 12:32 am · Filed under Accounting Firms
One of the largest accounting firms in Northern California is about to open an office at Hamilton Landing Hangars in Novato.
Burr Pilger Mayer announced Wednesday that it will open its fifth Bay Area office in December, and some of its North Bay employees are rejoincing.
“It’s fabulous just from the traffic standpoint. We have eight or nine people at the higher levels who live in Marin,” said Sonoma resident Geralyne Mahoney, one of eight partners who will work at Hamilton rather than commute to the firm’s headquarters in San Francisco.”
The firm will occupy about 3,300 square feet and serve as home base for about a dozen people at the start, according to marketing manager Constance Jorritsma. Later, staff might total 15 there, she said.
“We always felt that wherever our people are living, those are communities we should support,” Mahoney said. “… Marin is the perfect place for us to retain and attract good staff who do not want to make that commute.”
Jim Petray, hired by BPM on Oct. 30 from the Hanna Boys Center in Sonoma, will manage the Novato office.
BPM, which has more than 350 employees, was founded 23 years ago and focuses on accounting, business consulting and wealth management services. Its other offices are in San Francisco, Palo Alto, San Jose and Walnut Creek.
The firm has been recognized as one of “The Best Places to Work in the San Francisco Bay Area” by the San Francisco Business Times.
http://www.marinij.com/marinnews/ci_10967608
